Ellsberg elaborates on "Risk, Ambiguity, and the Savage Axioms" and mounts a powerful challenge to the dominant theory of rational decision in this book.

First Published in 2001. Routledge is an imprint of Taylor & Francis, an informa company.

Ellsberg elaborates on "Risk, Ambiguity, and the Savage Axioms" and mounts a powerful challenge to the dominant theory of rational decision in this book.

This book is an exploration of the ubiquity of ambiguity in decision-making under uncertainty. It presents various essays on behavioral economics and behavioral

Prospect Theory: For Risk and Ambiguity, provides a comprehensive and accessible textbook treatment of the way decisions are made both when we have the statisti